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Meme Coins Worthy of Your Watchlist for a 2x Rally
With a quiet midweek for Bitcoin and major altcoins, meme coins are rising in the rankings on growing demand and FOMO. In addition to trending picks like PEPE, WIF, and others, here are a few alternatives with equally exciting upside potential.
So, let’s take a closer look at the price chart of these meme coins.
Meme Coins Worth Buying: BRETT (BRETT)
With a market cap of $1.2 billion, PEPE’s close friend has quickly made a name for himself in the meme coin space. Sitting at #63 on the list of top 100 cryptocurrencies by market cap, BRETT is trading at $0.1289 and has an intraday pullback of 2.78%.
On the daily chart, the BRETT token is showing an in-motion pullback phase leading to an overhead resistance trendline. Furthermore, according to the trend-based Fibonacci levels, the BRETT price is struggling to break above the 23.60% level.
As the broader market recovery gathers pace, the meme coin could signal a continuation of the uptrend with a breakout of the trendline. The Fibonacci level teases a potential price bounce to $0.26 or $0.36.
FLOKI (FLOKI)
Being one of the best performers in early 2024 and with a show of resilience in June, FLOKI shows tremendous underlying demand. With a market cap of $1.72 billion, the meme coin is ranked #52 on the top 100 cryptocurrencies list and is trading at $0.0001781.
On the daily chart, the FLOKI Price struggles to overcome the crucial resistance level at $0.00019, coinciding with the trend-based Fibonacci level of 23.60%. Furthermore, the underlying increase in demand triggers an inverted head and shoulders pattern with the neckline at $0.00019.
With the recent surge and increasing demand for meme coins, FLOKI price teases a breakout rally ahead. According to Fibonacci levels, the uptrend could peak at $0.00033 before rallying to $0.00055.
Shiba Inu (SHIB)
Despite a falling channel on the daily chart, the second-largest meme coin, Shiba Inuhas a market cap of $10.3 billion. The correction phase is responsible for a 50% decline from $0.000035 to the current price of $0.00001752.
With the current bullish cycle within the channel failing to overcome the 23.60% Fibonacci level, the meme coin is witnessing another dip. However, the broader market reversal and rising FOMO could fuel the SHIB Price to overcome the channel.
A breakout could peak at $0.000035 before shooting up to the 1.618 level at $0.000057.
See also: Bitcoin Price Prediction: Here’s the Roadmap for BTC Price in the Next 48 Hours!